Bank of Canada
4/3/23
The views expressed in this presentation are solely those of the author and may differ from official Bank of Canada views. No responsibility for them should be attributed to the Bank of Canada.
Crypto-currencies a talk in three acts
The era of crypto currencies (2009-2015)
- BTC gets lost a lot
- Miners are very concentrated
The era of smart contracts (2015-2018)
- Tokens and exchanges start and fail all the time
- The real interesting thing is the exchange
The current era of Decentralized Finance (DeFi) (2018-present)
- "Stable"coins have gotten large very fast
- DeFi has also grown but is still relatively small
Each area is the share of BTC that has not moved in that amount of time (ex 10 years+ in top right corner)
BTC is only about 40% of all crypto marketcap.
Still lots of research questions to explore and crypto is a great laboratory to do it in since:
BUT…
This talk (available on GH “james-crypto-research/EUI_2023”) uses data from the following data sources: